Luxury Watch Retailer Is Reportedly for Sale

It's been hurt by location and other factors.

Tourneau, which sells high-end watch brands such as Rolex, Patek Philippe and Cartier, is for sale, according to media reports.

Leonard Green & Partners, owner of the retailer, has engaged Houlihan Lokey to sell the company, Debtwire reported, citing "two sources close to the situation."

But after three months, there's been little success in attracting a buyer, according to Debtwire.

Tourneau and other companies in the luxury watch business are being hurt by a declining market for watch exports. The popularity of smartphones has "without a doubt eaten into the market share of global timepieces," Debtwire notes.

But the New York Post identified another problem facing Tourneau: the proximity of the retailer's New York flagship to Trump Tower. Traffic in the area since the election has caused the store to lose about $2 million in revenue, the Post reported, citing "a source close to the company."